Security and Flexibility

There are fewer than 280 Ginnie Mae issuers in the entire country. It’s a select few that have met high quality standards as set forth by Ginnie Mae.

Additionally, Ginnie Mae issuers are subject only to the guidelines as designated by FHA. This means that Weststar Mortgage is not at the mercy of investors that add additional layers of underwriting guidelines that are outside the common sense underwriting practices of FHA. It also means that you won’t see a loan program disappear during the process unless it is no longer offered through FHA financing.

Doing business with a Ginnie Mae issuer translates to doing business with a company that has been tested for strength and sound business practices. Some of the requirements of becoming and maintaining a Ginnie Mae issuer include:

• Issuers must be approved FHA mortgagees in good standing, and remain in good standing.
• Issuers must possess demonstrated experience and management capacity in the underwriting, origination, and servicing of mortgage loans.
• Issuers must have fidelity bond and a "mortgagee errors and omissions" policy in effect.
• Issuers must have a minimum net worth of $1,000,000.
• Provide Ginnie Mae with annual and quarterly financial reports and related documents that confirm the ongoing financial soundness of the issuer's organization.
• Issuers must not exceed delinquency thresholds.